USD 8.8 billion
Global Medical Adhesives Market Size, Share, Growth Analysis, By Resin(Acrylic, epoxy), By Technology(Water based, solvent based), By Application(Dental, medical device & equipment), By Type(Pressure sensitive adhesives, Dissolvable adhesives) - Industry Forecast 2024-2031
Report ID:
SQMIG35B2081 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|
Tables:
121 |
Figures:
78
Global Medical Adhesives Market Insights
Medical Adhesives Market size was valued at USD 8.8 billion in 2019 and is poised to grow from USD 9.41 billion in 2023 to USD 14.81 billion by 2031, growing at a CAGR of 7% in the forecast period (2024-2031).
Patches, surgical and medical tapes, wound care products, and ostomy devices are examples of medical adhesives that require human contact. PSAs (pressure sensitive adhesives) based on PIB are commonly used in transdermal drug delivery (TDD) systems. Medical adhesives are designed to adhere biological tissues and to heal wounds more effectively. Other factors, including such disposable medical products and their cost-effectiveness, are predicted to propel the global medical adhesive market. The use of medical adhesives over traditional wound closure measures such as stitches, combined with faster working speeds, is predicted to drive the market share during the analysis period. However, the rising raw material prices for adhesives, which including collagen and fibrin, is also restricting the medical device market's expansion.
As per The World Health Organization report an epidemic of unhealthy lifestyles is affecting the entire world's population. The organization states that an unhealthy lifestyle is directly related to cardiovascular diseases. As a result, the number of people suffering from cardiovascular diseases has dramatically increased. Additionally, the product's uses in internal medical procedures like heart surgeries are growing. For instance, the use of fibrin-based adhesives, a key binding agent with hemostatic properties, is expanding quickly in heart surgery.
US Medical Adhesives Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Acrylics
Fastest Growth
Acrylics
Growth Rate
7% CAGR
Global Medical Adhesives Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Medical Adhesives Market By Resin ($ Bn)
Global Medical Adhesives Market By Resin (%)
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Global Medical Adhesives Market Segmental Analysis
Global medical adhesives market is segmented based on the resin, technology, application, type, and region. Based on resin, global medical adhesives market is segmented into acrylic, epoxy, polyurethane, silicone, and others. Based on technology, the medical adhesives market is segmented into water based, solvent based, hot melt, reactive & others. Based on application, the market is segmented into dental, medical device & equipment, internal medical application, and external medical application. By type, it is segmented into Pressure sensitive adhesives, Dissolvable adhesives, Electrical conductive adhesives. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Medical Adhesives Market Analysis by Resin
Based on resin, global medical adhesives market is segmented into acrylic, epoxy, polyurethane, silicone, and others. Acrylics segment emerged as the largest market leader in 2021, accounting for 45.3% of total sales, and its dominance is expected to continue during the forecast period. Acrylics are used in a variety of applications, including dentistry and the manufacture of medical devices.
Silicone-based medical adhesives are in high demand due to their ability to adhere to silicon and other difficult-to-adhere surfaces. They are also more resistant to weather and have a longer lifespan than acrylics. They're also used to create access points that are implanted beneath the skin of patients who need multiple infusions.
Epoxy adhesives have excellent thermal and chemical resistance when compared to other resins due to their ability to cross-link. Due to their ability to fill large gaps and bond to a variety of substrates, they are widely used for deep-section potting of medical components and needle assembly.
Medical Adhesives Market Analysis by Application
Based on application, the market is segmented into dental, medical device & equipment, internal medical application, and external medical application. Internal medical application segment is predicted to lead the global medical adhesives market during the forecast timeframe with the fastest growth rate. Bioadhesives are frequently used in internal medical applications, primarily in intracorporal situations that necessitate direct contact with organs, tissues, and bodily fluids. These products are largely used to reduce internal bleeding complications.
External medical applications usually involve wound dressing, skin tissue adhesives, transdermal patches, bandages, surgical drapes, electrodes, and ostomy care. Due to the limitations of this technique, adhesives in this segment are replacing traditional closure methods such as wires, sutures, and staples.
Adhesives are used in medical devices and equipment for anesthesia-mask bonding, hearing-aid moulding, needle assembly, polycarbonate component assembly (e.g., heat exchangers, blood oxygenators, and surgical pumps), and other medical device bonding. The product's substrate versatility, strong thermal and chemical resistance, low shrinkage, high gap filling, high peel, and rapid cure are important factors driving their growth in medical devices and equipment.
Global Medical Adhesives Market By Resin, 2023 (%)
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Global Medical Adhesives Market Regional Insights
Asia Pacific is projected to be the fastest growing regional market over the forecast period. The Asia Pacific region’s large population accelerated healthcare awareness, and increased risk of wound infections are the primary growth drivers. The region's large number of diabetic patients is also expected to help the medical adhesives market grow. The United Nations estimates that Asia Pacific is home to 60% of the world's population. Furthermore, Asia Pacific has a large number of diabetics. According to the Asia Pacific Diabetes Prevention Organization, Asia Pacific accounts for approximately 60% of all type 1 diabetes cases worldwide. This increases the demand for medical adhesive products such as transdermal insulin patches and other similar products in the region.
The United States is anticipated to be a profitable market during the forecast period because the government is taking significant steps to develop new medical technologies and products in the country, which will drive the product market in the North America region.
Global Medical Adhesives Market By Region, 2024-2031
- Largest
- Fastest
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Global Medical Adhesives Market Dynamics
Medical Adhesives Market Driver
- As a result of an unhealthy lifestyle, the occurrence of cardiovascular disease is rising worldwide. Cardiovascular disease is the leading cause of death worldwide, according to the World Health Organization (WHO). The most common types of cardiovascular illness are congenital heart disease, stroke, peripheral artery disease, arrhythmia, congestive heart failure, cardiac arrest, hypertension, and coronary artery disease. Medical adhesives, such as bandages, surgical tapes, wound care patches, and transdermal patches, are widely used in the healthcare industry. To reduce bleeding, medical adhesives such as cyanoacrylate and fibrin are commonly used in cardiovascular surgery.
Medical Adhesives Market Restraint
- The surging cost of healthcare infrastructure is limiting the industry's growth. Rising disposable income will encourage consumers to spend more on healthcare facilities, but only up to a certain point. Healthcare providers and medical device manufacturers must control costs, but they are experiencing problems doing so as the price of raw materials rises.
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Global Medical Adhesives Market Competitive Landscape
Global medical adhesives market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Medical Adhesives Market Top Player's Company Profiles
- Johnson & Johnson
- Arkema Group
- 3M Company
- Baxter International Inc.
- Bostik SA
- Chemence Medical Products Inc.
- Cohera Medical Inc.
- CryoLife Inc.
- DENTSPLY SIRONA Inc.
- Ethicon US, LLC
- GluStitch Inc.
- Henkel AG & Co. KGaA
- Medtronic PLC
- Merit Medical Systems Inc.
- Smith & Nephew PLC
- Scapa Group plc
- Takeda Pharmaceutical Company Limited
- TAPESEAL AB
- Vancive Medical Technologies
- Wound Care Technologies Inc.
- Ypsomed Holding AG.
Medical Adhesives Market Recent Developments
- In November 2022, Flexcon introduced four new healthcare and pharmaceutical products.
- In October 2022, DuPont launched the Chinese-language regional website liveo.dupont.cn for the DuPontTM LiveoTM Healthcare Solutions brand. The new site will help to meet China's demand for high-quality, high-performance healthcare products.
Global Medical Adhesives Key Market Trends
- Medical adhesives, such as bandages, surgical tapes, wound care patches, and transdermal patches, are widely used in the healthcare market. In cardiovascular surgery, medical adhesives such as cyanoacrylate and fibrin are used extensively to control haemorrhage because of their ability to provide effective hemostasis in a range of aortic and cardiac surgeries.
Global Medical Adhesives Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global medical adhesives market analysis, increased government spending on healthcare is expected to boost demand for the product in India, propelling Asia Pacific region growth in the forecasting years. The government's growing interest in public health has also fuelled the demand for more advanced and specific equipment in healthcare settings, resulting in increasing the medical adhesives market share during the prediction period. However, the high cost of bio-based raw materials for medical adhesive manufacturers has suppressed growth in cost-sensitive emerging markets such as India and others.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 8.8 billion |
| Market size value in 2031 | USD 14.81 billion |
| Growth Rate | 7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Medical Adhesives Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Medical Adhesives Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Medical Adhesives Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Medical Adhesives Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Medical Adhesives Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Medical Adhesives Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Medical Adhesives Market Report Snapshots
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